WED JAN 08 2025-theGBJournal| The Treasury bond secondary market traded with bullish sentiments, as the average yield fell by 2bps to 19.4%.
Across the benchmark curve, the average yield declined at the short (-7bps) end, driven by the demand for the JAN-2026 (-38bps) bond, but pared at the mid (+1bp) segment due to sell pressures on the FEB-2031 (+2bps) bond.
The average yield closed flat at the long end.
At the NTB secondary market were bullish, as the average yield contracted by 5bps to 25.4%.
The average yield declined at the short (-1bp), mid (-18bps) and long (-2bps) segments following buying interests in the 43DTM (-35bps), 134DTM (-82bps) and 316DTM (-2bps) bills, respectively. In contrast, the average yield expanded by 24bps to 27.9% in the OMO segment.
The overnight lending rate contracted by 110bps to 27.5% in the absence of any significant inflows into the system.
Meanwhile, the naira fell for the second consecutive trading session, dropping by 0.3% to N1,541.70/US$ at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
This is after the local lost 3bps to N1,537.03 on Tuesday against the strengthening dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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